Martingale Asset Management L P Boosts Stake in Perrigo Company plc (NYSE:PRGO)

Martingale Asset Management L P increased its position in Perrigo Company plc (NYSE:PRGOGet Rating) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,670 shares of the company’s stock after buying an additional 664 shares during the period. Martingale Asset Management L P’s holdings in Perrigo were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PRGO. TCW Group Inc. raised its position in Perrigo by 2.0% during the second quarter. TCW Group Inc. now owns 12,078 shares of the company’s stock valued at $490,000 after purchasing an additional 242 shares during the period. Securian Asset Management Inc. raised its position in Perrigo by 2.2% during the second quarter. Securian Asset Management Inc. now owns 12,266 shares of the company’s stock valued at $498,000 after purchasing an additional 263 shares during the period. State of Michigan Retirement System raised its position in Perrigo by 0.9% during the second quarter. State of Michigan Retirement System now owns 34,258 shares of the company’s stock valued at $1,390,000 after purchasing an additional 300 shares during the period. Exchange Traded Concepts LLC raised its position in Perrigo by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 16,419 shares of the company’s stock valued at $666,000 after purchasing an additional 376 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of Perrigo by 2.6% in the second quarter. State of Alaska Department of Revenue now owns 19,312 shares of the company’s stock worth $783,000 after buying an additional 490 shares during the period. 96.41% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Trading Up 0.9 %

Shares of NYSE:PRGO opened at $32.52 on Thursday. Perrigo Company plc has a 52-week low of $31.32 and a 52-week high of $43.90. The business’s 50 day moving average is $37.41 and its 200 day moving average is $38.93. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.55 and a quick ratio of 1.48.

Perrigo (NYSE:PRGOGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.12). Perrigo had a positive return on equity of 5.31% and a negative net margin of 1.93%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Perrigo Company plc will post 2.02 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, December 1st. This represents a $1.04 annualized dividend and a yield of 3.20%. Perrigo’s dividend payout ratio (DPR) is presently -165.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PRGO shares. Wells Fargo & Company upgraded Perrigo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $48.00 to $54.00 in a report on Tuesday, September 6th. StockNews.com started coverage on Perrigo in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James reduced their price target on Perrigo from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Finally, Argus upgraded Perrigo from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, September 14th.

Perrigo Company Profile

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Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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